HomeLifestyleIPO Market: Electronics Mart IPO price band fixed, issue will open from...

IPO Market: Electronics Mart IPO price band fixed, issue will open from this date, know full details

Highlights

Electronics Mart India Limited is engaged in the business of consumer durables retail chain.
Anchor investors can bid for this IPO on October 3.
The allotment of the IPO will take place on October 12 and the listing on October 17.

Mumbai. Another IPO is about to knock in the primary market. Consumer durables retail chain Electronics Mart India Limited’s IPO is going to open from October 4 to 7. The company has fixed a price band of Rs 56-59 per share for the IPO. In September last year, the company had applied for the IPO to the market regulator SEBI. The company has a target of 500 crores through this issue.

The company will use the money raised from the IPO for various purposes. Of this, Rs 111.44 crore will be for capital expenditure and Rs 220 crore for working capital requirements. At the same time, the company will also use Rs 55 crore to repay its debt.

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Allotment and listing on this date
Anchor investors can bid for this IPO on October 3. The allotment of the IPO will take place on October 12. On October 14, the shares will be credited in the demat account. Whereas the company will be listed on October 17.

The company’s working capital facilities as on August 2022 were Rs 919.58 crore and as on June 2022 the company had a debt of Rs 446.54 crore. Anand Rathi Advisors, IIFL Securities and JM Financial is the lead manager of the issue.

Also read- Retail chain of electronics goods is going to bring IPO, when will you get a chance to bid, check details

Electronics Mart India Limited (EMIL) was founded by Pawan Kumar Bajaj and Karan Bajaj under the name ‘Bajaj Electronics’ as a consumer durables and electronics store. The company is doing retail business with 112 stores in 36 cities mainly in Andhra Pradesh, Telangana and NCR. In FY22, the company had received revenue of Rs 4349.32 crore from operations. At the same time the profit was around 40.65 crores.

Earlier, shares of Harsh Engineers International had a banging listing on Monday. Even in a weak market, the company’s shares were listed on the NSE at a premium of about 40 percent i.e. Rs 450 from the issue price. The IPO issue price was Rs 330. After the listing, the stock of Harsh Engineers once reached Rs 484.90.

Tags: IPO, SEBI, stock market

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